Frequently Asked Questions (FAQ) |
 I am an existing client of HSBC and now want to convert my current account to BusinessVantage, what do I need to do?How long does it take for the conversion procedure?Do I need to close all my current accounts at HSBC to use BusinessVantage? Can I keep my current account and use BusinessVantage at the same time?Will my account number be changed once I switch to use BusinessVantage account?I open my corporate account at HSBC 4 months ago and now want to switch to BusinessVantage, do I have to bear the charge fee for closing account within 6 months since opening?Will all my current accounts be automatically closed if I start to use BusinessVantage?How long after opening BusinessVantage, I have to close my old accounts?Provided that I have closed my normal business accounts, but my business partner still make a transfer to the old account, will that sum of money be automatically transferred to my BusinessVantage account? |
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What is BusinessVantage? BusinessVantage is a unique all-in-one account that combines full transactional banking services, satisfy all the financial needs for companies. Instead of having different accounts for different needs, now companies just have to apply for one account, BusinessVantage. What are the services provided by BusinessVantage?Customers can now enjoy advantages and benefits from all services and products of HSBC in one product BusinessVantage, including: • Interest Bearing Account • Payment and Cash Management • Foreign Exchange • Trade and Supply Chain • Corporate Employee Privilege Scheme (CEPS) • Banking channel: • 24/7 Automated Telephone Banking and Call Center (business hour) • Business ATM Card • Business Internet Banking • Business Credit Card Am I charged for applying for BusinessVantage?BusinessVantage application is free charge for application. Besides, customers will enjoy all of services included in the package without any maintainance fee. Can I register to BusinessVantage but not using some services included in this product package?Depending on the needs of your company, you can always choose to use or not use the services in BusinessVantage package. |
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What are the benefits of using this product? The bundled account BusinessVantage provides your company with the preferential tariff, greater benefits and much more convenience when making banking transactions as below: • Higher interest rate based on your deposit amount and payable on a monthly basis • Free local and overseas inward remittances • Free payroll services charge via Business Internet Banking service • Up to 40% discount on local transfer • Up to 55% discount on international transfer • Up to 50% discount on online transactions (apply for local and low value (less than 500Mil VND) transactions only) • Free Business ATM Card • Free Business Internet Banking with 2 free Security Devices for 2 Primary Users • Preferential tariff for Import and Export services • Preferential foreign exchange rate quoted on a daily basis • Free payroll accounts for company's employees (Corporate Employee Privilege Scheme - CEPS) with extra benefits for staff such as: - Free annual fee for Personal ATM Card - Free annual fee for Personal Internet Banking - Free annual fee for Automated Telephone Banking • Professional assistance from our dedicated Relationship Managers and Client Services team How about the tariff applies for this product?A preferential tariff is applied for BusinessVantage which would give you much more advantages compared to standard tariff of HSBC. For more details of the tariff, please contact our Customer Service Hotline, Corporate Banking at 1800 555528 (toll-free) or (84 8) 3520 3333 from Monday to Friday, 8:30AM to 5:30PM or email us at commercialbanking@hsbc.com.vn What are the advantages of this new product compare to the normal business account?Normally, a company would need several acconts for different purposes. But now, with BusinessVantage, you will need only 1 account for all your banking needs, and enjoy a preferential tariff compared to normal business accounts. Is there any promotion program for this product at the moment?Besides the preferential tariff and higher interest rate compared to normal business account, there is a special gift from HSBC for application sent before 31 December 2008. |
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I am an existing client of HSBC and now want to convert my current account to BusinessVantage, what do I need to do? All you need to do is to fill in the Account Opening Form just like the first time and tick the field “BusinessVantage account”. For your convenience, the existing accounts you have with us will be remained for a period of 3 – 5 months. During this time, please inform your business partners about of new account so you can close your old accounts to use BusinessVantage account only. If you want to use Business ATM Card or Business Internet Banking, please fill in the Application Form and return to the Bank. How long does it take for the conversion process?From 01 to 02 days after us receiving your Account Opening Form to open BusinessVantage, customers will have the account number and can start to use BusinessVantage account. Do I need to close all my current accounts at HSBC to use BusinessVantage? Can I keep my current account and use BusinessVantage at the same time?You can have at the same time several accounts at HSBC. However, each account opened has a monthly average deposit balance (ADB) that needs to remain, if it falls below the minimum, a service charge amount will be debited from your account. The BusinessVantage account included all types of account in it so you may not need other accounts. However, if you still want to open or maintain other accounts besides BusinessVantage, please make sure that you remain sufficient ADB for all these accounts. Thus, once you have the BusinessVantage account, it is recommended that you close other accounts. Will my account number be changed once I switch to use BusinessVantage account?A customer account number consists of 9 digits, in which 3 last digits are indication of the account type. When open BusinessVantage, your new account number will be replaced 3 last digits to 3 digits of BusinessVantage, so the rest 6 digits of account number are remained unchanged. You will only need to inform your business partners about the changing of 3 last digits in the account number. I open my corporate account at HSBC 4 months ago and now want to switch to BusinessVantage, Do I have to bear the charge fee for closing the account within 6 months since opening?If you close your account at HSBC to open another account at HSBC (or BusinessVantage account), you will not have to bear any charge. Will all my current accounts be automatically closed if I start to use BusinessVantage?Your accounts at HSBC will not be automatically closed unless you request to close your normal accounts by filling in the Close Account Request Form. How long after opening BusinessVantage, I have to close my old accounts?After opening BusinessVantage account, it is recommended that you close your old accounts within 3 to 5 months. Your Relationship Managers will provide you with clearer explanation. Provided that I have closed my normal business accounts, but my business partner still make a transfer to the old account, will that sum of money be automatically transferred to my BusinessVantage account?In this case, HSBC will transfer the sum of money to your BusinessVantage account once received your confirmation that money is to transfer to your account. |
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Who is eligible to use BusinessVantage? All companies that open accounts at HSBC in Vietnam are eligible to use this product. Are there any requirements in order to open BusinessVantage account?The only condition to use this product is the monthly average deposit balance of VND 160,000,000 or equivalent to other currencies (USD, GBP, EUR…) If the monthly average deposit balance falls below the minimum, a service charge will be automatically debitted from your account. How can I apply for BusinessVantage?All you need to do is to fill in the Account Opening Form to open BusinessVantage account and return to the Bank. Your BusinessVantage account is ready to use after 01 or 02 working days since we received your Account Opening Form. If you are existing customer of HSBC, after open BusinessVantage account, you may want to submit the Close Account Request Form to close other normal accounts. What if I cannot satisfy the required monthly minimum balance for BusinessVantage account?If the monthly average deposit balance falls below the minimum, a service charge will be automatically debitted from your account. |
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How can I register for BusinessVantage? Please fill in the Account Opening Form for BusinessVantage and send to us via our branches, email or hand in directly for our Relationship Managers. Your BusinessVantage account will be opened after 01 or 02 working days. In case you already have corporate accounts at HSBC, please fill in the Close Account Request Form after activate the BusinessVantage account. HSBC Bank (Vietnam) Ltd. The Metropolitan, 235 Dong Khoi St., Dist. 1, HCMC E-mail: commercialbanking@hsbc.com.vn Please contact our Customer Service Hotline, Corporate Banking at 1800 555528 (toll-free) or (84 8) 3520 3333 from Monday to Friday, 8:30AM to 5:30PM for assistance. I have mislaid my Invitation Letter, how do I obtain a new one?Please contact our Customer Service Hotline, Corporate Banking at 1800 555528 (toll-free) or (84 8) 3520 3333 from Monday to Friday, 8:30AM to 5:30PM for assistance. How long after registration I can use my BusinessVantage account?The BusinessVantage account is ready to use after 01 or 02 working days since we received your Account Opening Form. Who can I speak to if I need assistance to fill in the Account Opening Form?Please contact our Customer Service Hotline, Corporate Banking at 1800 555528 (toll-free) or (84 8) 3520 3333 from Monday to Friday, 8:30AM to 5:30PM for assistance. |
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How do I close BusinessVantage account? Please fill in the Close Account Request Form for that BusinessVantage account and, simultaneously, the Account Opening Form to open another normal account if you still wish to bank with HSBC. I have closed normal business accounts and opened BusinessVantage, but now I want to use my old account, can I convert back to standard account?Please fill in the Close Account Request Form for that BusinessVantage and, simultaneously, the Account Opening Form to open normal account you will have your old accounts back. |
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